The 15th Finance Commission set up an expert committee which will advise it on matters related to the Terms of Reference (ToR) that have come under attack from some non-BJP ruled states such as Andhra Pradesh and Kerala.
About Advisory Committee :-
- The panel will advise the Commission on any issue or subject related to the ToR and provide assistance in the preparation of any paper or research study which would enhance the Commission's understanding on the issues containing in its ToR.
- The committee will also help in broadening the Commission's "ambit and understanding" to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.
- Members of the panel :-
Arvind Virmani, former Chief Economic Advisor
Surjit S Bhalla, Part-time Member of PMEAC
Sanjeev Gupta, a former IMF deputy director
Pinaki Chakraborty, Professor (NIPFP)
Sajjid Chinoy of JP Morgan and Neelkanth Mishra of Credit Suisse India
Criticism over ToR :- Some southern states have criticised the ToR saying progressive states would lose revenue if 2011 census was taken as base for devolution of central funds.
- Opposing the ToR of the Commission, Andhra Pradesh Chief Minister N Chandrababu Naidu at a recent meeting in Amaravati said that progressive states would lose heavily if the 2011 census was taken as the basis for devolution of central funds.
- Kerala Finance Minister Thomas Isaac, Andhra Pradesh Finance Minister Yanamala Ramakrishnudu, West Bengal Finance Minister Amit Mitra and others attended the conclave.
- Last month, Kerala had hosted a conference of finance ministers of various states to discuss issues of common concern with respect to the commission.
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